The best sales growth strategies for Aussie tech companies

What top Australian tech companies are doing to grow B2B sales

Australia has become a hub for B2B technology companies big and small. Currently, there are 22 public Australian tech companies that are valued at more than $1 Billion, and 81 Australian tech companies that are valued at more than $100 million. Big names like Canva, Afterpay, Airwallex and SafetyCulture all started in Australia and are now renowned global companies. So, what’s the secret sauce? Why are more and more of the world’s largest tech companies coming out of Australia?

The Australian government for one, is actively helping. They’ve seen the return the sector can bring (think an already whopping $167 Billion contribution to the nation’s GDP) and are now actively investing in key industry sectors with targeted funding and incentives — it’s no wonder international tech companies are flocking to the scene.

Despite the growing competitive density for new Australian tech companies, there’s still ample opportunity for emerging tech companies to grow sales, nab grants and secure capital investments. It’s all about implementing the right sales growth strategy from the get-go.

The best B2B tech sales growth strategies

There’s plenty of sales growth jargon on the internet today, and if you’re interested in growing sales at your tech business you’ve likely come across it. But which are actually viable tactics for your company? And what are other Australian tech companies doing?

From the basics you need, to what industry leaders are doing, here are the best B2B sales growth strategies to grow your tech business.

1. Get your foundation right by defining your 'Ps"

Opportunities in Australia will be driven by your business’s focus, but the answer remains, how do you break in?

Australia has a sophisticated market with opportunities for new tech companies across multiple sectors including:

• Agri-food and agTech
• Circular economy
• Culture, tourism and leisure
• Defence
• DigiTech
• Education and research
• Energy and renewables
• Financial services and finTech
• Health and life sciences
• Infrastructure
• Resources and critical minerals
• Space

Before you even get into the ground-breaking sales strategies used today, it’s important to understand where your business sits in relation to the industries that need it. Once you’ve defined your niche, you need to carve out – what we call – the three ‘Ps’: People, purpose, proposition.

Ask yourself:

1. Who are you selling the solution to? (People)
2. What are the specific problems your solution solves? (Purpose)
3. What’s your solutions unique selling point? (Proposition)

These might seem basic questions, but they are fundamental. Agreeing this internally from the start means you’ll arm your team to focus on targeting the right buyer personas with the right messages. Not only will this help them to attract more leads and close more sales, but also supports securing those government grants and capital investments too.

2. Hold marketing's feet  to the fire

Gone are the days where sales teams are solely responsible for finding their own leads through cold calling, trade shows or long lunches. It’s been proven that generating quality leads through marketing campaigns lowers the overall cost of sale.

For B2B tech specifically, growth comes from making marketers responsible for generating qualified leads for sales, and for sales to commit to processing those effectively. The solution to this leads us to our next point...

3. Sales and marketing alignment

Sales and marketing alignment is a shared system of communication, strategy, and goals that enable marketing and sales to operate as a unified team.

4. Don't forget those 'mushy middle' leads

Your buyers’ journey, or sales funnel, is a fairly accurate representation of how your leads become customers. However, even if there is a sound SLA in place between your marketing and sales teams, the middle of the funnel can often become a murky grey area if you’re not careful.

The mushy middle of the sales funnel is a gold mine of opportunity, but is one often left unexamined because it can become unclear who (out of sales or marketing) is going to pick it up. Regardless of who is doing what, the truth of the matter is your mushy middle is an untapped revenue gold mine.

5. Enable your sales team to work smarter

Using tech to sell more your tech is fast becoming the most critical way to engage, nurture and close sales in the digital era. Gartner explains that the foundation of a sales enablement strategy is to provide salespeople with what they need to successfully engage the buyer throughout the buying process.

Implementing things like analytics and business intelligence, sales automation, and customer relationship management systems are now considered the normal way to supercharge sales teams and keep them on the pulse of revenue growth.  

The Australian government is putting a lot of focus on growing it’s third-largest economic driver with grants and incentives readily available. Because of this, the nation’s tech sector is growing rapidly with interested entrepreneurs flocking to the scene from near and afar.  

However, despite growing competition, there’s still ample opportunity for emerging tech companies to grow sales, nab grants and secure those lucrative capital investments. It’s all about nailing the basics and then implementing the right tech to see them succeed.

If you’re interested in defining your ‘Ps’, aligning your teams, or using tech so sell more of yours, we’ve got a few ideas that could help. Drop us a line.